Even though the price was impressive what got my attention was that fact that investment banks Goldman Sachs, JP Morgan and even the Bank of America are now getting in crypto currency.
Today I see more and more companies accepting bitcoins than even a year ago. So I through I would throw some money that will not hurt me to lose to see what happens.
For the record, had I invested 2K last January 2017 when bitcoin was $1k I would have had 38K today (this includes my original investment). I almost did but held off. I realized I made the same mistake I did in 2011 when it was $2.97 a coin. I remember when it was breaking 2k a few months ago, then 3k, then 4k, etc... All the naysayers were saying it's done and it will crash. Sort of reminds me of the media with President Trump. Anyway, I just watched it go up and up.
Ethereum (the A.I. that supports Bitcoin) is up $258 in the last week and Litecoin (allows for the fast transactions of bitcoins) is up $180 this past week. At this time I view the 3 as the gold, silver and bronze of crypto/blockchain currency and that may change? There still relatively cheap at this time.
Nevertheless, it's complete insanity at these rates, and I don't see any slow down in the near future. Meaning the next 7 to 11 years if I had to put a estimate to it? Yes it will crash. When I really do not know? In any event, insanity sold.
Remember when Napster began to transform the music industry in the late 1990s? We all watched it transform in slow motion (meaning daily). Today though, twenty years later, the music industry has been forever changed today. Now at the most you pay for a song is $1 more or less or you can go to subscription base and have access to all the songs you want. Anyhow, IMO what we are witnessing in slow motion is the world's financial markets transforming.
The world is moving from a controlled closed source, petro dollar centralized bank system to a open source decentralization system controlled by the people and true free markets.
The crypto currency will transcend the dollar if trends continue. I don't see how they will not?
Here is a good link on where to get it and understand how it works.
https://www.bestbitcoinexchange.io/
I smell a rat
Bought some at 6000.
I’m a happy puppy.
My son bought in a long time ago and he has seen a 1,100 percent increase in his investment. He just sold it all, though.
Bitcoin is fundamentally flawed in its mission to be a usable currency, both because of its underlying structural limits and weaknesses, but also because the primary purpose of any currency is to be a stable medium of exchange. Bitcoin is anything but stable, which makes it useless for anything other than speculation.
To the average American, it's meaningless. They can't buy groceries or pay the electric bill with it.
Would any employer want to pay with bit coin?
Would any employee agree to a contract in bit payment?
Too volatile?
So much for it being “currency”...,
This shit is fools gold.
I sent a bitcoin payment last week and the transaction fee (you basically have to bid to get your transaction into the queue for processing) was around 0.0015BTC, so it cost me about $22 to send some money.
Maybe the price will keep going up, but in my opinion it is no longer usable as a currency and I expect that the current demand is driven by speculators who will likely never withdraw their funds from an exchange (at least not when they see how much it costs).
Other coins are cheap, faster, and some are designed for anonymity (bitcoin isn’t, really).
Bitcoin actual value is zero.
I am glad for people who made money but it would absolutely crash at one point.
James Woods tweeted one time that if a currency were Bernie Madoff, it would look like Bitcoin. Good luck to those nimble and lucky enough to extract a profit from the suckers.
>Remember when Napster began to transform the music industry in the late 1990s? We all watched it transform in slow motion (meaning daily). Today though, twenty years later, the music industry has been forever changed today. Now at the most you pay for a song is $1 more or less or you can go to subscription base and have access to all the songs you want. Anyhow, IMO what we are witnessing in slow motion is the world’s financial markets transforming.
You’ll note that Napster didn’t survive and it was apple that conquered the music market. Digital currency is going to be a thing, but it’s very unlikely bitcoin with insanely high transaction fees or very long delays is going to be it. Enjoy the ride while it lasts.
Litecoin has tripled in the past two weeks and Ripple has gone up 4X since Monday.